CloudHashing

CloudHashing logo

CloudHashing is a company that sells bitcoin mining contracts. It is one of the largest bitcoin mining companies worldwide. In May 2014, CloudHashing merged with HighBitcoin to create PeerNova.[1] PeerNova continues to sell mining contracts under the CloudHashing brand.


Contents

Description

What is Cloud Hashing?

CloudHashing offered a ready-made pricing plans, which involve the purchase of already pre-defined sets of capacities. Currently the company offers 3 packages, 30, 140 and 350 Ghash. Sold mining contracts in 1 Gigahash units. The service is offered by community member Bitmaniac.

CloudHashing is headquartered in London, England with offices in Austin, Texas and a computing facility in Reykjanesbær, Iceland.[2] Emmanuel Abiodun is the company’s founder and chief executive officer.

The service is quoted to begin mining in May 2013[3]. They plan to operate BFL Mini-rigs initially due to its low power consumption. Current hash rate on preorder with BFL is 4.5 Thash.

In 2013, Cloud Hashing has bought the company KnCMiner large number of ASIC miners and opened data centers in Kansas and Iceland. The location of the mine in Iceland is extremely advantageous, as it allows you to save on electricity used to cool the machines, due to the low air temperature. On average, about 220 coins (at the time of the end of 2013) are mined per day in the Icelandic “Shakhta”, which at the rate at that time was ~200 000$. At the same time, the company rents 80% of the capacities to those who wish to rent them. By the end of December 2013, Cloud Hashing had 4.5 thousand customers.

By March 2014, Cloud Hashing had a total capacity of ~ 1,500 Th / s. The total capacity of the bitcoin network is 38 000 Th / s. Thus, 4% of the total capacity of the bitcoin network is concentrated in the hands of the company.

History

Emmanuel Abiodun, a former software engineer for JP Morgan and contractor for HSBC, founded CloudHashing in 2013 after mining bitcoins at his house in London. After receiving investments from personal friends, Abiodun set up his first computing facility in Kansas City, Kansas in June of that year. In October 2013, Abiodun opened the company’s Reykjanesbær, Iceland computing facility. The facility was opened with 100 bitcoin mining machines manufactured by a Swedish supplier.

In March 2014, CloudHashing signed a deal with digitalBTC, an Australian bitcoin services firm, to incorporate CloudHashing’s software into digitalBTC’s mining hardware. In the same month, According to the reports, CloudHashing prepared $20 million bitcoin mining operation.[4]

January 2015, CloudHashing’s deal with digitalBTC was dissolved after “key outcomes from the strategic agreement in March 2014 did not eventuate”.[5]

In November 2016, the company webpage had the following message: “The cloudhashing service has been discontinued. If you are a previous cloudhashing customer awaiting payment of your account balance, please email [email protected]…”

External Links

See Also on BitcoinWiki

References

  1. ↑ CloudHashing, HighBitcoin Merge Hosted Mining with ASICs to Form PeerNova
  2. ↑ CloudHashing.com Prepares $20 Million-a-Month Bitcoin Mining Operation
  3. ↑ CloudHashing – AboutUs
  4. ↑ CloudHashing.com Prepares $20 Million-a-Month Bitcoin Mining Operation
  5. ↑ DigitalBTC Dissolves Bitcoin Mining Agreement with CloudHashing